CORONATION FUND MANAGERS LIMITED - Voluntary update of tax matter
Voluntary update of tax matter
CORONATION FUND MANAGERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1973/009318/06)
Share code: CML
ISIN: ZAE000047353
LEI: 3789001BC9A294E6FF77
(“Coronation” or “the Company”)
VOLUNTARY UPDATE OF TAX MATTER
The purpose of this announcement is to provide shareholders of the Company
(“Shareholders”) with further information regarding the tax litigation relating to the group’s
international operations.
Shareholders are referred to the SENS announcement released on 8 February 2023, wherein
Shareholders were informed that the Supreme Court of Appeal (”SCA”) had upheld the South
African Revenue Services appeal and ordered the Company’s subsidiary, Coronation Investment
Management SA (Pty) Ltd (“CIMSA”), to pay additional taxes in respect of profits earned by
its international operations, together with interest and costs.
Subsequently CIMSA applied to the Constitutional Court for leave to appeal the SCA
judgement (refer to note 7 of the Interim Results for the six months ended 31 March 2023 for
additional information).
On Friday, 1 September 2023 the Constitutional Court issued a directive that it will hear the
Company’s application for leave to appeal and hear arguments on the merits of the matter.
The matter will be set down for hearing by the Constitutional Court in due course.
Cape Town
5 September 2023
Sponsor
Valeo Capital (Pty) Ltd
Date: 05-09-2023 03:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
